https://www.taxtmi.com/caselaws?id=414475 The Tribunal overturned the ad-hoc disallowance of outstanding creditors, emphasizing the importance of thorough investigation and proper assessment before making such disallowances. The judgment highlighted the need for a clear understanding of the transactions and the genuineness of outstanding balances to avoid arbitrary disallowances. en-us Mon, 04 Oct 2021 00:00:00 +0530 Tue, 09 Nov 2021 08:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414475 The Tribunal overturned the ad-hoc disallowance of outstanding creditors, emphasizing the importance of thorough investigation and proper assessment before making such disallowances. The judgment highlighted the need for a clear understanding of the transactions and the genuineness of outstanding balances to avoid arbitrary disallowances. Case-Laws Income Tax Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414475